I have home loan interest payment 4,00,000/-.
Also I receive rent income of 10,000/- monthly.
so I will calculate.
interest amount will be taken 2,00,000/- or 4,00,000/-
4 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 25 July 2018
Rs. 2lakhs...
Can you explain your query again with details of house property...!
Can you explain your query again with details of house property...!
Soumyaranjan Samal
(fresher)
(190 Points)
Replied 25 July 2018
Interest on home loan : 4,00,000/-,
Rent received on above home : 1,20,000/-
Municipal taxes: 12,000/-,
for the F.Y. 2017-18.
Rent received on above home : 1,20,000/-
Municipal taxes: 12,000/-,
for the F.Y. 2017-18.
rama krishnan
(12239 Points)
Replied 26 July 2018
gross annual value - 120000
less municipal taxes - 12000
net annual value - 108000
less standard deduction - 36000
less interest on borrowed capital - 272000
loss from house property - 200000 (can be set off against other sources of income)
balance loss to be carried forward - 138000
less municipal taxes - 12000
net annual value - 108000
less standard deduction - 36000
less interest on borrowed capital - 272000
loss from house property - 200000 (can be set off against other sources of income)
balance loss to be carried forward - 138000
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